Author Question: Winthrop Racing owns a car racing team on the East Coast. On May 25, Winthrop purchased 26,750 worth ... (Read 203 times)

BrownTown3

  • Hero Member
  • *****
  • Posts: 564
Winthrop Racing owns a car racing team on the East Coast. On May 25, Winthrop purchased 26,750 worth of racing tires for the cars on its team. To get the Winthrop account, the tire manufacturer offered generous terms of 5/15, net 60 . The discount applies to any amount paid within the discount period. What is the unpaid balance if Winthrop paid 20,00 . on June 5? (This problem involves the partial payment of an invoice within the discount period.)

Question 2

Warm Winters Linen, Inc had ending inventory this year of 250,000 . ending inventory last year of 200,000 . and cost of goods sold of 240,000 . Compute the inventory turnover. (Round answer to two decimal places.)



helenmarkerine

  • Sr. Member
  • ****
  • Posts: 324
Answer to Question 1

100 . - 5 = 95
20,00 . 0.95 = 21,052.63
26,750 - 21,052.63 = 5,697.37 unpaid balance

Answer to Question 2

1.07



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

The National Institutes of Health have supported research into acupuncture. This has shown that acupuncture significantly reduced pain associated with osteoarthritis of the knee, when used as a complement to conventional therapies.

Did you know?

There are immediate benefits of chiropractic adjustments that are visible via magnetic resonance imaging (MRI). It shows that spinal manipulation therapy is effective in decreasing pain and increasing the gaps between the vertebrae, reducing pressure that leads to pain.

Did you know?

Fatal fungal infections may be able to resist newer antifungal drugs. Globally, fungal infections are often fatal due to the lack of access to multiple antifungals, which may be required to be utilized in combination. Single antifungals may not be enough to stop a fungal infection from causing the death of a patient.

Did you know?

Malaria mortality rates are falling. Increased malaria prevention and control measures have greatly improved these rates. Since 2000, malaria mortality rates have fallen globally by 60% among all age groups, and by 65% among children under age 5.

Did you know?

Acetaminophen (Tylenol) in overdose can seriously damage the liver. It should never be taken by people who use alcohol heavily; it can result in severe liver damage and even a condition requiring a liver transplant.

For a complete list of videos, visit our video library